Daily Gold Update

Source: MarketWatch

New York— Gold futures rallied to trade above $800 an ounce early Tuesday, while platinum futures soared to a new record high on supply concerns. Platinum for January delivery advanced as high as $1,524 an ounce, a new all-time record high, in regular trading on Tuesday. In electronic trading, platinum rose as high as $1,526.40. Gold for February delivery rose $9.70, or 1%, to $809 an ounce on the New York Mercantile Exchange. Earlier, gold futures hit an intraday high of $811.

"This rally seems strong as gold has just spiked upwards and breeched $810," said Zachary Oxman, a senior trader at Wisdom Financial. "I'd regard any trading through the end of the year as strictly technical trading or position cleaning type trading." See full story.